Oil firms in China are raising exports of clean petroleum products amid the country’s worst flooding in decades, offering support to charter rates of MR tankers, market experts said.
Kpler data suggests Chinese clean products exports will reach 6.25m barrels in the week beginning on 27 July, the highest weekly total in three months.
After high production rates despite domestic demand hit by floods, the country’s refineries are seeking to sell excess products to overseas markets, several analysts have said.
